Next sales rise helped by online expansion

Next Plc has raised its full-year revenue and earnings forecasts as the UK’s second-biggest clothing retailer reported first-half sales that beat analysts’ estimates, helped by its push into e-commerce.

Revenue rose 11% in the 26 weeks to July 26.

Next has expanded its online business into 70 countries outside the UK, giving it a low-cost way to compete with Spain’s Inditex and Sweden’s Hennes & Mauritz (H&M) in markets where it doesn’t have stores. That has also helped Next surpass main UK competitor Marks & Spencer Group Plc in earnings and market value.